Daihatsu Motor intends to double annual production and sales of its Terios compact sport utility vehicle in Venezuela from the initially planned 6,000 units to 12,000 units, the Nihon Keizai Shimbun newspaper reported.

Daihatsu exports the vehicles in CKD form to Venezuela, where they are assembled by a Toyota joint venture, Toyota de Venezuela Compania Anonima (TDV). Because the vehicle, designated as a ‘national car’, gives its buyers favorable tax treatment, its sales have been brisk, the newspaper said.

The Venezuelan joint venture began producing the 1.3-litre-engine vehicles in November 2001 and began selling the vehicle through its 57 nationwide showrooms under the Daihatsu brand in December 2001, the Nihon Keizai Shimbun said.

The Terios accounted for 2,271 of the 58,328 vehicles sold in Venezuela during the January-April 2002 period, the newspaper added.

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